Saturday, July 11, 2015

Sold for 8.4 freezers

Bill Jefferson's house: $758,000.
Nine years and 11 months ago, five FBI agents armed with a search warrant rapped on the door of an Uptown home in the 1900 block of Marengo Street.

So began the downfall of U.S. Rep. William Jefferson, long one of New Orleans’ most towering political figures. Since convicted of corruption charges, he is now a federal inmate in Oakdale, La., about a third of the way through a 13-year prison term.

The six-bedroom, 5,000-square-foot house where Jefferson’s world began to crumble was quietly sold last month for $758,000, a tad more than Jefferson and his wife, Andrea, sought when they first put it on the market in 2011, and a bit less than they asked for when they relisted it early this year.
Granted, it's a really nice house in decent area. In 1978 the Jeffersons paid $106,280 for it according to the assessor's records.  That's $387, 636 and change in today money... which is a lot. But you can see how much the real estate market has heated up.  Adjusting everything for inflation, the Jeffersons have profited over their original investment by about 4 $90,000 freezers.

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